Reports

New Details Emerge on Illinois' "Tier 3" Pension Plan

Release: September 27, 2017

Illinois' fiscal year 2018 budget introduced major changes to the state's public pension systems in an attempt to grapple with Illinois' roughly $130 billion in unfunded liabilities. One of the most important aspects of these changes was a new package of benefits. This new package, called "Tier 3," introduced a hybrid defined benefit-defined contribution plan in addition to the defined benefit plans of Tier 1 and Tier 2.

Governor Rauner’s Amendatory Veto of SB1 Has a Number of Negative Consequences for Schools Across Illinois

Release: August 14, 2017

While the Illinois Senate voted on Sunday to override the Governor's amendatory veto (AV) of SB1, the Evidence-Based Model for education funding reform, a new CTBA analysis has identified at least six aspects of the AV that would each threaten the ability of Illinois school districts to reach adequate funding to serve their students.

These deficiencies underscore the importance of passing SB1.

CTBA finds that Governor Rauner's AV would frustrate SB1's core purpose of creating an adequate and equitable education funding formula in a number of ways, including by weakening:

Governor Rauner’s Amendatory Veto of SB1 Artificially Inflates the Equalized Assessed Value of Most School Districts—Thus Under- Funding the Classroom

Release: August 7, 2017

CTBA analysis shows that school districts around the state would see their funding threatened by Governor Bruce Rauner's amendatory veto of Senate Bill 1, the Evidence Based Model for School Funding Reform.

Senate Bill 1124—An Inequitable Alternative to SB 1

Release: June 30, 2017

This report analyzes some of the major differences between SB1, the "Evidence-Based Funding for Student Success Act" that passed both chambers of the General Assembly; and SB1124, an alternative education funding reform bill sponsored by Senator Jason Barickman.

It finds that SB1 does not favor any school district-it does not create any special "bailout" of CPS-and instead creates a proportional, equitable distribution of new state funding for K-12 education.

How Much Are State Pension Payments Worth to Illinois School Districts?

Release: June 23, 2017

Every school district in Illinois except for the Chicago Public Schools has its teacher pension payments made by the state as a consolidated payment to the Teachers Retirement System. Because of this, it is difficult to determine how much money these pension payments are worth to individual districts. CTBA has created per-district estimates for both normal cost (the payment that covers benefits being earned by current employees) and legacy cost (the debt service payment to make up for previous years' underfunding).

Pages

SHARE THIS PAGE

Print